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are not? >> no, i it does not. as jon kyl has reported to you on the endless discussions that have gone on, we have become increasingly pessimistic that we will be able to reach an agreement with the only person in america and consign something into law, and that is the president of the united states. this is not my first choice. my first choice is to get an agreement with the president to significantly reduce spending. and we will continue to talk to them about that in the hopes that we can get there. that is what we think is the single biggest problem. >> what would you and republicans agreed to essentially raising the debt ceiling without getting our spending cuts? >> what we are not going to be of party to in the senate, i am pretty confident, it is the fault for the only way you can get an agreement that actually achieve something is when the president signs it. to actually reduce spending requires not just republicans, but a democratic senate and a democratic president. and we're still hoping to achieve spending reductions that he will sign. that is our first choice. i am going to ta
fired from non-policy on jon boehner. they are shorthand for the incredibly narrow range of choice that we actually have in political -- and elected officials. >> to house financial services subcommittee funny joint hearing on mortgage service in a foreclosure mitigation is. they also discussed the role of federal regulators in the ongoing mortgage service the negotiations. among those test thing at the hearing was david stevens, president of the mortgage and the immediate former commissioner of the federal housing administration. this is about three hours in 35 minutes. >> this hearing will come to order. and that you think my ranking member, mrs. moloney as well as oversight investigations chairman, if new cabal or who will be here in a few minutes and is ranking member, mr. pappalardo for organizing this joint hearing. many members have a great interest in having a hearing on the topic of march at servicing. it's light of today's hearing will provide a forum for members to cover multitude of subjects involving servicing. we were all shot at the news was followed allegations that
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